Sayaji Hotels (Indore) Ltd

Regulatory action details

• Authority: Office of the Collector (Excise), District Indore, Madhya Pradesh.
• Action: Suspension of Hotel Bar (FL-3) Licence for the hotel unit.
• Duration: Until FSSAI suspension revocation or March 31, 2027, whichever earlier.
• Trigger: Based on FSSAI order dated 21 August 2026.
• HC Stay: High Court stay on FSSAI order; company apprised Excise Department.
• Financial impact: Not determinable at present; material developments will be intimated.

FSSAI inspection and court stay

• FSSAI conducted inspection at Sayaji Hotel Indore on 20 August 2026.
• Partial suspension of the FSSAI license was ordered on 21 August 2026.
• A writ petition was filed with the Madhya Pradesh High Court on 22 August 2026.
• The High Court granted a stay on the impugned FSSAI order on 22 August 2026.
• No material operational or financial impact is currently reported; monitoring ongoing.

Regulatory action

• FSSAI ordered partial suspension of Sayaji Hotel-Indore unit's license.
• Order issued on 21 August 2026 after inspection on 20 August 2026.
• Company reviewing the order and will take steps under applicable law.
• Impact on operations or finances is not yet ascertainable.

Director Appointment

• Appointment of Mohammed Yusuf Abdul Razak Dhanani as Non-Exec Non-Independent Director, effective 28 July 2026.
• Related to Raoof Razak Dhanani, Managing Director.
• Profile: Industrialist with interests across fertilizer, hospitality, dining, sweets and realty.

Secretarial Auditor Appointment

• Type of change: Appointment of Secretarial Auditor.
• Name and designation: M/s DMJ & Partners, Secretarial Auditor.
• Effective date and term: from conclusion of 8th AGM (21 Aug 2026) for five years.
• Reason for change: appointment as the Secretarial Auditor.
• Brief profile: DMJ & Partners, governance, secretarial audits, SEBI/FEMA compliance.
• Relationships: Not Applicable.
• Impact on board/committee: No changes stated.

AGM details

• Date and time: 21 Aug 2026, 11:30 AM, via VC/OAVM.
• Deemed venue: Registered Office, Indore.
• Mode: VC/OAVM; remote e-voting: 18–20 Aug 2026.
• Cut-off date for voting entitlements: 14 Aug 2026.
• Notice hosted on company site: 30 Jul 2026.
• Total shareholders on record date: 2706.
• AGM attendance: 30 members; 14 remote votes; 0 at AGM.

Resolutions and outcomes

• Item 1: Adoption of Audited Financial Statements; Passed.
• Item 2: Re-appointment of Raoof Razak Dhanani; Passed.
• Item 3: Borrowing limit up to Rs 250 crore; Special; Passed.
• Item 4: Appointment of DMJ & Partners as Secretarial Auditor; Passed.
• Item 5: Appoint Mohammed Yusuf Abdul Razak Dhanani as Non-Executive Director; Passed.

Directors and management changes

• Raoof Razak Dhanani re-appointed as Director (retire by rotation).
• Mohammed Yusuf Abdul Razak Dhanani appointed as Non-Executive Non-Independent Director from 28 Jul 2026.
• Secretarial Auditor appointed: DMJ & Partners for five years; remuneration to be mutually agreed.

Auditor and secretarial appointments

• Secretarial Auditor: DMJ & Partners; five-year term ending at the 13th AGM.

AGM Details

• AGM held on 21 August 2026 via VC/OAVM.
• AGM time 11:30 AM to 12:00 PM IST.
• Remote e-voting 18–20 August 2026; cut-off 14 August 2026.
• Meeting concluded at 12:00 PM IST.

Resolutions

• Adoption of Audited Financial Statements (Ordinary).
• To appoint director by rotation and re-appoint if eligible (Ordinary).
• To increase borrowing limits under Section 180(1)(c) (Special).
• To appoint DMJ & Partners as Secretarial Auditor (Ordinary).
• To appoint Non-Executive Non-Independent Director (Ordinary).

Voting Results

• Voting results will be announced within 2 working days of conclusion.

Dividend

• Interim dividend declared and paid during FY 2025-26.

Director Changes

• Director due for rotation and re-appointment.

Auditor Appointments

• Secretarial Auditor appointed.

Promoter disposal details

• Target Company: Sayaji Hotels (Indore) Limited.
• Disclosing Party: Century 21 Officespace Private Limited, promoter group.
• Transaction Type: Sale of shares (disposal) by promoter.
• Pre-Transaction Holding: 9,16,270 shares, 30.07% voting rights.
• Shares sold: 17,498 (0.57%), instrument: equity shares, mode: Open Market.
• Post-Transaction Holding: 8,98,772 shares, 29.50%.
• Date of transaction: 18 August 2026.
• Capital before: Rs 3,04,66,050 (30,46,605 shares).
• Capital after: Rs 3,04,66,050 (30,46,605 shares).
• Total diluted capital after: Rs 3,04,66,050 (30,46,605 shares).

Transaction details

• Target Company: Sayaji Hotels (Indore) Limited.
• Disclosing Party: Century 21 Officespace Private Limited (Promoter).
• Transaction Type: Disposal of shares.
• Pre-disposal holding: 8,98,772 shares, 29.50% voting rights.
• Shares sold: 18,471 (0.606%).
• Post-disposal holding: 8,80,301 shares, 28.89%.
• Mode: Open Market.
• Date: 19 August 2026.
• Equity capital before: Rs 3,04,66,050 (30,46,605 shares).
• Equity capital after: Rs 3,04,66,050 (30,46,605 shares).

Promoter sale details

• Target Company: Sayaji Hotels (Indore) Limited.
• Disclosing Party: Century 21 Officespace Private Limited (Promoter).
• Transaction Type: Disposal of shares by promoter.
• Pre-Transaction Holding: 9,24,433 shares, 30.34% voting rights.
• Transaction Details: 8,163 shares sold (0.27%), Open Market, equity shares, 17 Aug 2026.
• Post-Transaction Holding: 9,16,270 shares, 30.07% voting rights.
• Date of Transaction: 17 August 2026.
• Equity share capital before/after: Rs. 3,04,66,050 (30,46,605 shares).
• Total diluted share capital after: Rs. 3,04,66,050 (30,46,605 shares).
• Mode of sale: Open Market.